Issue of Equity

RNS Number : 5747Z

Pembridge Resources plc

25 January 2022

 

25 January 2022

Subscription Completed and Admission of Shares

London, United Kingdom - Pembridge Resources plc (LSE: PERE) ("Pembridge" or the "Company") is pleased to announce that the Subscription as announced on 17 December 2021 has now been completed.

The Subscription

The Company has raised a total of £320,000 at a subscription price of 5p through the issue of 6,400,000 new ordinary shares of 1p in the Company ("Subscription Shares"). The Company has now applied for the admission of the second tranche of 3,200,000 New Ordinary Shares to be admitted to trading on the Official List and the London Stock Exchange from 8.00 a.m. on 28 January 2022 ("Admission"). The Company also raised £80,000 through the issue of a convertible loan to Gati Al-Jebouri, the Company's Chief Executive Officer and Chairman as previously announced. The proceeds of £400,000 will fund the review of new opportunities for the Company and general working capital.

The Company intends to issue the New Ordinary Shares under its existing authorities and an application has been made to the London Stock Exchange for the New Ordinary Shares which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on the Official List and the LSE.

Total Voting Rights

Following Admission, the Company's enlarged share capital will be 95,365,516 Ordinary Shares.  The Company does not hold any Ordinary Shares in Treasury.  Therefore, the total number of Ordinary Shares and voting rights in the Company will be 95,365,516. With effect from Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

ENDS

NOTES TO EDITORS

About Pembridge Resources plc

Pembridge is a mining company that is listed on the standard segment of the Official List of the FCA and trading on the main market for listed securities of London Stock Exchange plc. Pembridge has an investment in Minto Metals Corp, a British Columbia incorporated business listed on the TSX Venture Exchange under the symbol "MNTO" that operates the Minto mine in Yukon, Canada.

Enquiries:

Pembridge Resources plc:   [phone]

Gati Al-Jebouri, Chief Executive Officer and Chairman of the Board

David James, Chief Financial Officer

Tavira Securities - United Kingdom:                                             [phone]

Jonathan Evans

 

END

 

 

IOEFLFVLLVIEFIF